Our Nomination Committees’ terms of reference include the following two clauses: 

  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

“To consider plans and make recommendations to the Board for orderly succession for appointments to the Board and to senior management, to maintain an appropriate balance of skills and experience within the Company and on the Board and to ensure progressive refreshing of the Board, taking into account the challenges and opportunities facing the Company and its subsidiary undertakings (the Group).

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

To keep the executive and non-executive leadership needs of the Group under review, with a view to ensuring it continues to compete effectively in the marketplace.”

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

At the first meeting of the NomCo the Chairman said that was the responsibility of the Exec management team and requested that this reference be removed from the ToR.

 

In other companies I have worked with, the “pipeline” of existing management talent, and their development potential to a board position, has been monitored/reviewed by NomCo on a regular basis (as well as during the Board’s annual strategic review). Is the exclusion of senior management development/monitoring, the “norm” within other NomCos?